Free CII R01 Mock Exam Questions with Answers (2026)
Try 5 free R01 practice questions with answers and explanations — covering financial markets, auto-enrolment, regulation, status disclosure and ethics. Test yourself before the real exam.
Looking for free CII R01 practice questions? Here are 5 exam-style questions covering a range of learning outcomes, with answers and detailed explanations.
The questions include both standard MCQs and a multiple-response question, just like the real R01 exam. Try each one, then click to reveal the answer and explanation.
📝 R01 Exam Quick Facts
- 100 questions in 2 hours: 87 standard MCQs + 13 multiple-response
- Pass mark: 65%
- Multiple-response questions: only in LO6 and LO7 — marked all-or-nothing
- Syllabus: UK financial services, regulation, legal concepts, the advice framework and ethics
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Question 1: LO1 — The UK Financial Services Industry
What is the Bank of England's main tool for influencing economic activity?
A. Reports from the Committee of European Banking Supervisors
B. The level of the UK base interest rate
C. Buying and selling Treasury Bills in the market
D. UK government borrowing compared with other EU countries
Click to reveal answer
✓ Correct Answer: B
The level of the UK base interest rate.
The Bank of England primarily influences economic activity through Bank Rate. Changing it affects borrowing costs, saving returns, demand and inflation across the economy. Options A and D relate to European bodies, not the Bank of England's primary tool. Option C describes money market operations, which are a secondary mechanism.
On ExamDen.uk, every question comes with a detailed explanation, like the sample question above
Question 2: LO2 — How the Retail Consumer Is Served
Farid runs Harbour Workshops Limited and is looking at the workplace pension requirements for his employees.
Which of the following would he need to auto-enrol into a pension?
A. Leah, who is 19 and earns £11,000 a year
B. Oscar, who is 23 and earns £14,000 a year
C. Ruth, who is 69 and earns £20,000 a year
D. Eva, who is 22 and earns £8,000 a year
Click to reveal answer
✓ Correct Answer: B
Oscar, who is 23 and earns £14,000 a year.
To be an eligible jobholder for auto-enrolment, a worker must be aged between 22 and state pension age and earn above the earnings trigger (currently £10,000). Oscar meets both criteria. Leah is under 22. Ruth is over state pension age. Eva earns below the trigger.
Question 3: LO5 — The Financial Regulators' Responsibilities
What is the maximum term of imprisonment that may be imposed on an individual found guilty of insider dealing?
A. 1 year
B. 5 years
C. 10 years
D. There is no limit
Click to reveal answer
✓ Correct Answer: C
10 years.
The maximum custodial sentence for insider dealing is 10 years. The increased maximum reflects the seriousness of market abuse. A court may also impose an unlimited fine. This is the kind of specific figure that the R01 exam tests — if you don't know it, you're guessing between the options.
On ExamDen.uk, practise one learning outcome at a time, then sit a full mock in the real question count and time limit
Question 4: LO8 — Skills Required When Advising Clients (Multiple Response)
More than one option is correct. Select all that apply.
Under the status disclosure rules, what should an adviser confirm to a retail client on first contact where advice on or arrangements for packaged products are contemplated?
A. How to complain
B. The firm's regulatory status
C. Investment objectives
D. Withdrawal rights
Click to reveal answer
✓ Correct Answers: A and B
How to complain, and the firm's regulatory status.
At first contact, the adviser must explain the firm's regulatory status and how the retail client can complain. These disclosures identify the applicable protections before packaged-product advice or arrangements proceed. Investment objectives (C) are gathered during the fact-find, not at first contact. Withdrawal rights (D) are disclosed later, after a product is recommended.
This is a multiple-response question — the real R01 exam has 13 of these, all in LO6 and LO7. They're marked all-or-nothing: selecting A alone, or A, B and C, would score zero.
On ExamDen.uk, multiple-response questions are marked all-or-nothing, just like the real CII exam
Question 5: LO11 — Ethical vs Compliance-Driven Behaviours
The product that would pay the adviser most is not the most suitable product. What should the adviser do?
A. Recommend the higher-paying product and treat a later disclosure as a substitute for suitability
B. Recommend the suitable product and not allow the remuneration to drive the choice
C. Ask the client to opt out of the Consumer Duty
D. Recommend two unsuitable products so the bias is shared
Click to reveal answer
✓ Correct Answer: B
Recommend the suitable product and not allow the remuneration to drive the choice.
The adviser must recommend the product that is suitable for the client and manage the remuneration conflict. A higher commission or other payment must not bias the recommendation. This is a core principle of the Consumer Duty and the CII Code of Ethics — the client's interests come first.
On ExamDen.uk, a timed mock shows your score against the 65% pass mark, and which learning outcomes are below it
How Did You Do?
| Score | What it means |
|---|---|
| 4–5 correct | Strong foundation — you're getting to grips with R01. Focus on timed practice with a larger question set. |
| 2–3 correct | Good start, but some areas need work. Check which learning outcomes you got wrong and revise those. |
| 0–1 correct | More study needed. Review the material before attempting mocks — see our R01 study guide. |
These 5 questions are a small sample. The real R01 exam has 100 questions across 11 learning outcomes, and the only way to know if you're ready is to take a full timed mock.
Want More Practice?
ExamDen's R01 question bank has 500+ exam-style questions — standard MCQs and multiple-response questions marked all-or-nothing — timed mocks in the real CII format, and AI that pinpoints which learning outcomes to revise.
For a full study plan, see our complete R01 study guide. If you were searching for past papers, read why the CII doesn't release them, and what to use instead.
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The ExamDen.uk Team
ExamDen.uk builds exam-style question banks and timed mocks for CeMAP, Cert CII and CII R01–R05, helping UK professionals prepare for their financial services exams.